Buyer rescues Devon fudge manufacturer

Confectioner Bristow’s of Devon is due to re-start production at its Crediton-based factory today, after a buyer was found to rescue the company.

The site had been closed after the fudge and toffee manufacturer went into receivership on December 11. However, on December 23, administrative receivers, Baker Tilly, revealed that Andrew Walsh had bought all of the company’s assets. Walsh’s business interests include Millar McCowan, a confectionery manufacturing business based in Scotland, and Thornycroft, a confectionery importing and distribution business based in St Albans.

Administrative receiver and Baker Tilly partner, Andrew Sheridan, said that they were thrilled to have concluded the sale before Christmas, which would secure some, or all, of the 69 jobs that were at stake.

Sheridan added: “The current crisis has had a knock-on effect across all sectors and with this type of business being heavily reliant on seasonal trade, the resultant reduction in sales came at a particularly difficult time.

“In addition, the firm has been badly affected by the soaring cost of the pension levy payable to the pension protection fund.”

Bristows was founded in 1932 by Charles Bristow. The factory is based on a 7,082 square metre site in Crediton.